Overview

Major Area of Specialization in Economics (People & Society or STEM)

The BSBA in Economics equips business students with solid economic theories and econometric techniques supporting critical thinking to deal with a wide range of modern economic problems. Economics majors are successful in a large variety of careers: corporate world, consulting, government, not-for-profits, international agencies, law, as well as graduate studies and academic roles.

Miami Herbert Business School students who wish to pursue the Economics major area of specialization will choose between two tracks:  Political Economy (P&S) or Quantitative Economics (STEM). In the Political Economy track, People and Society courses are predominant.  In the Quantitative Economics track, Science, Technology, Engineering, and Mathematics courses are predominant.

Curriculum Requirements

In addition to satisfying the University General Education Requirements and Electives, students pursuing the BSBA in Economics must complete the BSBA Business Core and the specific coursework for one of the Economics major tracks as follows:

University General Education Requirements 1 , 2
ENG 105English Composition I3
ENG 106English Composition II 33
UMX 100The University of Miami Experience0
Arts and Humanities Cognate Courses9
STEM or People and Society Cognate Courses (depends upon which Major option is selected)9
Electives 15
BSBA Business Core Requirements 1
ACC 211Principles of Financial Accounting3
or ACC 221 Accelerated Principles of Financial Accounting
ACC 212Managerial Accounting3
or ACC 222 Accelerated Managerial Accounting
BSL 212Introduction to Business Law and Ethics3
BTE 210Fundamentals of Business Technology and Innovation3
BTE 320Programming: Fundamentals and Algorithms3
BUS 150Business Analytics3
BUS 300Critical Thinking and Persuasion for Business 33
ECO 211Principles of Microeconomics (Microeconomics)3
ECO 212Principles of Macroeconomics (Macroeconomics)3
FIN 302Fundamentals of Finance3
MAS 311Applied Probability and Statistics (minimum grade of C- required)3
MAS 312Statistical Methods and Quality Control3
MTH 161Calculus I (minimum grade of C- required)4
MTH 162Calculus II4
MGT 100Managing for Success in the Global Environment3
MGT 199Professional Development and Success in the Workplace (or other approved Miami Herbert Business School career course)1
or BUS 211 Professional Development for Finance and Accounting
MGT 303Operations Management3
MGT 304Organizational Behavior3
MGT 401Strategic Management (must be taken in the final semester)3
MKT 201Foundations of Marketing3
or MKT 301 Marketing Foundations
Quantitative Choice - Select one of these suggested courses approved by the Vice-Dean for Undergraduate Business Education - check pre-requisites:3
Object-Oriented Programming
Database Management Systems
Applied Econometrics (may not double count as both the Quantitative Choice and a major choice unless Economics is an additional major)
Mathematical Economics and Applications (may not double count as both the Quantitative Choice and a major choice unless Economics is an additional major)
Introduction to Optimization and Decision Making
Stochastic Models in Operations Research
Computer Simulation Systems
Supply Chain Modeling and Analysis
Supply Chain Strategy
Major Area of Specialization in Economics 4
Choose either Political Economy or Quantitative Economics.18
Political Economy Track Required Courses (People & Society) :
Principles of Microeconomics (taken as part of the Business Core)
Principles of Macroeconomics (taken as part of the Business Core)
Microeconomic Theory
Macroeconomic Theory
Major Choice Courses (P&S) - Select four courses (12 credit hours) from the following: 5
Public Economics
Labor Economics (I)
Industrial Economics and Public Policy
Environmental Economics
Economics of Development
Latin America, the Caribbean, and the Global Economy
The Political Economy of Growth
Health Economics
Monetary Economics
Economic Growth
International Trade Theory
International Monetary Economics
Economic Analysis of Energy and Commodity Markets
Global Economics: Trade and Currencies
Directed Studies in Economics
Special Topics in Economics (People and Society Topics)
History of Economic Thought
A maximum of two courses (6 credit hours) of major choice courses may be selected from the following STEM courses: 5
Applied Econometrics
Game Theory in Economic Applications.
Industrial Organization
Directed Studies in Economics
Special Topics in Economics (STEM Topics)
Mathematical Economics and Applications
Empirical Labor Economics
Topics in Mathematical Economics
Econometrics
Advanced Macroeconomic Theory
Advanced Microeconomic Theory
Quantitative Economics Track Required Courses (STEM) :
Principles of Microeconomics (taken as part of the Business Core)
Principles of Macroeconomics (taken as part of the Business Core)
Microeconomic Theory
Macroeconomic Theory
Major Choice Courses (STEM) - Select four courses (12 credit hours) from the following: 5
Applied Econometrics
Game Theory in Economic Applications.
Industrial Organization
Directed Studies in Economics
Special Topics in Economics (STEM Topics)
Mathematical Economics and Applications
Empirical Labor Economics
Topics in Mathematical Economics
Econometrics
Advanced Macroeconomic Theory
Advanced Microeconomic Theory
Total Credit Hours120

Sample Plans of Study

This Sample Plan of Study represents one possible version of a new freshman business student’s 8-semester plan.  The individual student's plan may vary depending upon the initial placement into English Composition and mathematics. Moreover, numerous plan variations are possible if a student enters the University with advanced college credits, wishes to participate in study abroad, chooses a special program option, or selects additional majors or minors.  

Note that each major/minor at the University of Miami satisfies a particular "Area of Knowledge" within the general education requirements of the University. This means that it is possible to pursue two majors, or a major and a minor, within Miami Herbert Business School and fulfill both the STEM and People and Society Areas of Knowledge; a separate cognate in these areas would not be required. The only remaining general education Area of Knowledge is Arts and Humanities, which must be completed through a major, minor, or cognate outside of the Business School.

Students construct their individualized plans in collaboration with their assigned academic advisor.

Political Economy Track Plan of Study

Plan of Study Grid
Freshman Year
FallCredit Hours
ECO 211 Principles of Microeconomics 3
ENG 105 English Composition I 3
MGT 100 Managing for Success in the Global Environment 3
MKT 201 Foundations of Marketing 3
MTH 161 Calculus I 4
UMX 100 The University of Miami Experience 0
 Credit Hours16
Spring
BUS 150 Business Analytics 3
ECO 212 Principles of Macroeconomics 3
ENG 106 English Composition II 3
MTH 162 Calculus II 4
Arts and Humanties Cognate Course 3
 Credit Hours16
Sophomore Year
Fall
ACC 211 Principles of Financial Accounting 3
BSL 212 Introduction to Business Law and Ethics 3
BTE 210 Fundamentals of Business Technology and Innovation 3
MAS 311 Applied Probability and Statistics 3
Arts and Humanities Cognate Course 3
 Credit Hours15
Spring
ACC 212 Managerial Accounting 3
BUS 300 Critical Thinking and Persuasion for Business 3
ECO 302 Microeconomic Theory 3
FIN 302 Fundamentals of Finance 3
MAS 312 Statistical Methods and Quality Control 3
MGT 199 Professional Development and Success in the Workplace 1
 Credit Hours16
Junior Year
Fall
BTE 320 Programming: Fundamentals and Algorithms 3
ECO 303 Macroeconomic Theory 3
MGT 304 Organizational Behavior 3
Arts and Humanities Cognate Course 3
Economics P&S Major Choice 3
 Credit Hours15
Spring
MGT 303 Operations Management 3
Economics P&S Major Choice 3
STEM Cognate Course 3
Elective 3
Elective 3
 Credit Hours15
Senior Year
Fall
Economics P&S Major Choice 3
Quantitative Choice Course 3
STEM Cognate Course 3
Elective 3
Elective 3
 Credit Hours15
Spring
MGT 401 Strategic Management 3
Economics P&S Major Choice 3
STEM Cognate Course 3
Elective 3
 Credit Hours12
 Total Credit Hours120

Quantitative Economics Track Plan of Study

Plan of Study Grid
Freshman Year
FallCredit Hours
ECO 211 Principles of Microeconomics 3
ENG 105 English Composition I 3
MGT 100 Managing for Success in the Global Environment 3
MKT 201 Foundations of Marketing 3
MTH 161 Calculus I 4
UMX 100 The University of Miami Experience 0
 Credit Hours16
Spring
BUS 150 Business Analytics 3
ECO 212 Principles of Macroeconomics 3
ENG 106 English Composition II 3
MTH 162 Calculus II 4
Arts and Humanities Cognate Course 3
 Credit Hours16
Sophomore Year
Fall
ACC 211 Principles of Financial Accounting 3
BSL 212 Introduction to Business Law and Ethics 3
BTE 210 Fundamentals of Business Technology and Innovation 3
MAS 311 Applied Probability and Statistics 3
Arts and Humanities Cognate Course 3
 Credit Hours15
Spring
ACC 212 Managerial Accounting 3
BUS 300 Critical Thinking and Persuasion for Business 3
ECO 302 Microeconomic Theory 3
FIN 302 Fundamentals of Finance 3
MAS 312 Statistical Methods and Quality Control 3
MGT 199 Professional Development and Success in the Workplace 1
 Credit Hours16
Junior Year
Fall
BTE 320 Programming: Fundamentals and Algorithms 3
ECO 303 Macroeconomic Theory 3
MGT 304 Organizational Behavior 3
Arts and Humanities Cognate Course 3
Economics STEM Major Choice 3
 Credit Hours15
Spring
MGT 303 Operations Management 3
Economics STEM Major Choice 3
People and Society Cognate Course 3
Elective 3
Elective 3
 Credit Hours15
Senior Year
Fall
Economics STEM Major Choice 3
Quantitative Choice Course 3
People and Society Cognate Course 3
Elective 3
Elective 3
 Credit Hours15
Spring
MGT 401 Strategic Management 3
Economics STEM Major Choice 3
People and Society Cognate Course 3
Elective 3
 Credit Hours12
 Total Credit Hours120

Mission

  • To develop innovative ideas and principled leaders that transform global business and society.

Goals

The economics curriculum is designed to give business students an understanding of economic theory and its application to a wide range of problems.

Student Learning Outcomes

  • BBA/BSBA graduates will be critical thinkers, able to select and apply appropriate models, tools, and techniques, and frameworks to enable them to render analytically sound business decisions.
  • BBA/BSBA graduates will be able to identify, analyze and resolve ethical issues in business scenarios.
  • BBA/BSBA graduates will demonstrate professional written communication skills.
  • BSBA graduates will have strong technical skills.